Churchill Downs Incorporated Secures $1 Million in On-Track Insurance Coverage for Jockeys Competing at Six Company Racetracks

Churchill Downs Incorporated (“CDI” or “Company”) (NASDAQ: CHDN) has finalized agreements with AIG Insurance to provide $1 million in on-track insurance coverage for jockeys who compete at CDI racetracks located in states where jockeys, who are independent contractors, are not currently covered by workers’ compensation programs.

The increased major medical coverage, with $1 million in lifetime benefits, replaces the $100,000 in coverage CDI racetracks previously provided jockeys through an agreement with the Thoroughbred Racing Associations, a professional organization representing more than 40 North American racetracks. CDI will cover the majority of the cost for the new insurance premium and is working with horsemen’s groups in Florida, Indiana, Illinois, Kentucky and Louisiana to set up funding mechanisms through which racehorse owners will contribute to the cost of the increased coverage. The funding mechanisms implemented may vary by state or racetrack. CDI’s ability to offer $1 million in on-track coverage is contingent upon horsemen’s participation.

“While racetracks do not employ jockeys, they are important contributors to our live racing product, and Churchill Downs Incorporated is committed to funding the lion’s share of the cost for the $1 million in on-track coverage,” said Andrew G. Skehan, executive vice president and chief operating officer. “This is an industry-wide issue that requires an industry-wide response, and we look to our horsemen to assist us in paying for the added cost of this increased coverage.”

Churchill Downs Incorporated, headquartered in Louisville, Ky., owns and operates world-renowned horse racing venues throughout the United States. The Company’s racetracks in California, Florida, Illinois, Indiana, Kentucky and Louisiana host 121 graded-stakes events and many of North America’s most prestigious races, including the Kentucky Derby and Kentucky Oaks, Hollywood Gold Cup and Arlington Million. CDI racetracks have hosted nine Breeders’ Cup World Thoroughbred Championships – more than any other North American racing company. CDI also owns off-track betting facilities and has interests in various television production, telecommunications and racing services companies that support CDI’s network of simulcasting and racing operations. CDI trades on the NASDAQ National Market under the symbol CHDN and can be found on the Internet at www.churchilldownsincorporated.com.